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Ortel fixes IPO price band at Rs181-200 per share

Dinesh jain

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Odisha-based independent multi-
system operator (MSO) Ortel Communications
has fixed a price band of Rs 181-200 per share
for its initial public offering (IPO).

The company will raise Rs 217.2 crore (Rs 2.17
billion) at the lower price band and Rs 240 crore
(Rs 2.4 billion) at the upper end.

As per the price band, Ortel’s pre-money
valuation is Rs 441 crore (Rs 4.41 billion) at the
lower band and Rs 487 crore (Rs 4.87 billion) at
the upper end. Post-money valuation is at Rs
550 crore (Rs 5.5 billion) at the lower band and
Rs 607 crore (Rs 6.07 billion) at the upper end.

The public issue will have up to 12 million equity
shares of face value of Rs 10 each constituting
39.25 per cent of the fully diluted post-issue
paid-up equity share capital of the company.

Private equity firm New Silk Route will sell 26.67
per cent stake in Ortel representing six million
shares through the public issue.
Opening on 3 March, the issue will close on 5
March.

Ortel fixes IPO price band at Rs 181-200 per share | TelevisionPost.com
 
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